Crypto exchange Binance is investigating the SQUID token collapse and considers it a scam, one of the Binance authorized essentialists told CoinDesk.
A Binance spokesperson said it is exploring options to help those who are hurt, including “blacklisting developer-linked addresses and deploying blockchain analytics to identify bad actors.”
The play-to-win SQUID protocol is built on Binance Smart Chain (BSC), but Binance says BSC is an open-source ecosystem, so the company has no oversight over projects built on the network.
“Such scam projects have become very common in the DeFi space, as speculative crypto investors looking for the next ‘moon shot’ are quick to invest in projects without proper due diligence,” the spokesperson said.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individua
Saying “New York will be the center of Bitcoins” and supporting Bitcoin, Eric Adams became the new mayor of New York. America may come a new city that supports Bitcoin.
The nominee for the Democratic wing, former police officer and Bitcoin lover Eric Adams, has become mayor of York. Eric Adams, who received about 66 percent of the vote, won another Bitcoin-friendly city in the USA after Miami.
In his speech, 61-year-old mayor Eric Adams said, “I promise New Yorkers. When I’m elected president, you’ll see another city. “This will be the hub of science, cybersecurity, self-driving cars, drones and Bitcoins.”
Photo: nytimes.com
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individua
Black Rock Rhino, a South African rhino conservation organization, is preparing to raise funds for endangered species with an NFT auction. Together with the rhino protection foundation and blockchain technology firm Virtual Nation Builders, where more than 200 rhinos are protected, they plan to auction their NFTs in Momint, one of South Africa’s largest NFT markets.
The proceeds from the auction on November 11 will be used to pay for daily expenses related to the foundation, the Black Rock Rhino association explained. The statement reads: “The net income will go towards securing the area, feeding, vaccinations, animal welfare and other day-to-day operating expenses.”
Although rhino horns are prohibited, they are traded for $25,000. Black Rock Rhino officials believe digital horn NFTs will generate more returns. In this way, they try to prevent rhinos from being killed for their horns.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individua
The SEC’s monopoly over control of the “systematically important” stablecoin industry was denied. On November 1, the US President’s Financial Markets Working Group (PWG) released its highly anticipated report (Download Report PDF) and policy recommendations for stablecoins. The report focuses on the risks that “payment stablecoins” – or those designed to provide stable value against a reference fiat currency – can pose to users and financial stability.
An important message from PWG is that, although the use of stablecoins is currently largely limited to simplifying digital asset transactions, under certain circumstances this asset class could become much more prevalent in retail, necessitating the adoption by congress of a comprehensive federal prudential regulation system.
The PWG consists of the leaders of the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and the Federal Reserve and is led by the Secretary of the Treasury Department. The Federal Deposit Insurance Corporation (FDIC) and the Office of the Currency Controller (OCC) also contributed to the preparation of the interagency report. With such a large concentration of federal financial regulators, the results of their joint efforts were expected to provide a credible indication of the current administration’s stance on stablecoin regulation. Anonymous reports that surfaced shortly before the document was released claimed that the group had agreed to a plan to hand over significant power over stable tokens to the SEC. This further increased tensions around the interagency report.
The prospect of the SEC taking the lead in regulating the stablecoin is not encouraging for some players in the crypto space. K. Neil Gray, a partner at law firm Duane Morris, said before the report was released:
“Industry participants probably perceive the SEC’s desire to take a position in this space as another example of the SEC’s over-spreading in the cryptocurrency space and fear that the SEC will regulate stablecoins by enforcement rather than rule.”
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individua
With its decision, the FED (US Federal Reserve) did not change the policy rate and kept it constant in the range of 0-0.25 percent. The Fed decided to reduce its asset purchase rate by $15 billion per month.
The FED (US Federal Reserve) stated that it will slow down its asset purchases and decided to reduce the asset purchase rate to 15 billion dollars per month.
It will purchase $60 billion of treasury paper and $30 billion of mortgage-backed securities in December.
Of course, this decision will cause changes in the monetary values of countries and cryptocurrencies.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individua
Crypto.com is joining forces to bring the crypto industry to the eSports scene, in partnership with Twitch Rivals. The deal will see Crypto.com become Twitch Rivals’ first “Official Cryptocurrency Platform Partner” and an “Official Marketing Partner” with exclusive rights to Twitch events, in-stream branded segments, media placement and activations.
Crypto.com’s brand and logo will appear on more than 250 Twitch Rivals streams each year globally, including in the Asia-Pacific region. The partnership will be held live from Las Vegas at the Ultimate Challenge event on November 4.
Twitch is the world’s largest eSports streaming platform. Twitch Rivals is a series of esports tournaments hosted by the leading eSports streaming service twitch.tv, attracting over 140 million unique visitors each month from a different global audience.
“We are extremely excited to add Twitch Rivals, the home of eSports, to our growing portfolio of the world’s best brands in sports,” said Kris Marszalek, co-founder and CEO of Crypto.com.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individua
ADDX exchange launched its first cryptocurrency product. ADDX exchange introduced its crypto product with the listing of a digital asset fund by investment manager Trovio Capital Management (TCM).
TCM Digital Asset Fund approaches crypto investment in a different way. Besides key positions in Bitcoin and Ethereum, the fund invests in seven other top-performing cryptocurrencies that are regularly identified and reviewed through a proprietary quantitative analysis method. The Fund has an independent director, auditor and custodian. It is among the first digital asset funds to be overseen by KPMG. Custody and trading services are provided by Nasdaq-listed Coinbase.
Oi Yee Choo, Chief Commercial Officer of ADDX, said: “Cryptocurrencies are most likely the digital gold of our time. There is strong demand among investors for exposure to these digital assets. The traditional financial world initially tried to keep a cautious distance. But today, major financial institutions either have a crypto offering or are seriously considering it. We believe that the time to discuss whether cryptocurrencies have a place in an investment portfolio is almost over. The more relevant question now is how crypto investments should manage their risk in terms of asset retention and price volatility. Professionally managed crypto funds with a good track record could potentially address these risk concerns for investors.”
Ms. Choo added: “ADDX is pleased to work with Trovio on this first crypto offering to investors on our platform. Led by Jon Deane, the team has deep expertise in both traditional finance and crypto, and this is reflected in their meticulous approach to conceptualizing and bringing this institutional-level fund to market. As Singapore establishes itself as a major global hub for regulated crypto activity, ADDX aims to make a positive contribution to the city’s crypto landscape by adding a rich variety of high-quality offerings to investors.”
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individua
Commonwealth Bank of Australia will be the first major bank to allow its customers to buy, sell and hold products in cryptocurrencies.
Commonwealth Bank released a statement Wednesday, saying it has partnered with cryptocurrency exchange regulator Gemini to design a service for the CommBank app. It will allow its clients to access crypto assets, including Bitcoin, Bitcoin Cash, Ethereum and Litecoin.
Implementation will begin in the coming weeks. Matt Comyn, CEO of Commonwealth Bank, said: “The emerging and growing demand for digital currencies from customers creates both challenges and opportunities for the financial services industry, where a significant number of new players and business models are innovating in this space. To meet a growing customer need and We believe we can play an important role in crypto to provide capability, security and trust in a crypto trading platform.” said
Dave Abner, Head of Global Business Development at Gemini, said the partnership will “set a new standard for banks and financial platforms in Australia”.
Commonwealth Bank has announced it will become the first major Australian bank to allow customers to buy, sell and hold cryptocurrency. Credit: MORGAN SETTE/AAPIMAGE
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility.
The FIRST Non-custodial Decentralized Exchange Built by Ravendex on the Cardano Blockchain. decentralized exchanges facilitate trade between individuals through smart contracts. Similar exchanges exist in different blockchains.
There are several successful DEXs, including PancakeSwap on Binance Smart Chain, Curve on Ethereum, and Uniswap. RavenDex is another unique platform built on the Cardano Blockchain. It is a cross-chain exchange that operates using the EUTXO accounting model with unique features such as splitting liquidity.
Ravendex is a platform built on the Cardano Blockchain. It is a cross-chain exchange that operates using the EUTXO accounting model with unique features such as splitting liquidity.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility.
